Struggling debt collectors to debtors: Let's make a deal

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Uploaded by on Nov 24, 2008

You'd think that debt collection would be booming these days, but even debt collectors are having trouble. They're more willing to cut deals, accept alternate payment plans.

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News & Politics

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  • @sniper152 It is considered forgiven debt which, for some reason, is considered income by the IRS so you would be taxed on it.

  • @badpanda84 Many times debt is bought or sold in bulk and bought and sold between different agencies and buyers with no supporting documentation. It is very difficult for agencies to prove they own the debt when this happens. That is why they try so hard to get you to acknowledge the debt and pay them something without ever having to show valid proof that you owe the debt and you owe the collector the debt.

  • Fck debt collectors!!!

  • Don't pay! But don't put up with collection calls, either! My method stops all calls for good! I was a CA manager for years and know the REAL way to STOP ALL CALLS.

  • Fuck collectors. If they're feeling the pinch, then good.

  • I say screw them all. They took billions of dollars out of our pockets already in the ILLEGAL, UNCONSTITUTIONAL GOVERNMENT BAIL OUT - It you're in debt that you can't pay....FILE FOR BANKRUPTCY. It's not as bad as you think it is. Talk to a lawyer. If you can't afford the lawyer, call your county's Bar Association, they will be able to point you in the right direction to get legal help.

  • thank you, it's nice to see a video about paying your debts rather then trying to get out of them.

  • @badpanda84 It's all a game & we 're the ones that dont know

  • @badpanda84 but u dont have to deal with any collection agaency that can't verify the debt. That means they need to show u evidence that they have a contract with u which they don't have. The only way for them to get permission is to get u to discuss the debt with them. They will say anything to get u to acknoledge them as a party to the matter. Thats why they ask u to contact them about the legitimacy of the debt. That gives them imediate access

  • @knowmoor ok but what happend went they purchase the debt. Its no good talking to the orginal creditor then casue they will just refer you to the debt collection agency who has all legal right to the debt

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